First Bank of Nigeria: Restructuring for High Performance

Ifedapo Adeleye

South Asian Journal of Business and Management Cases, 2013, vol. 2, issue 1, 51-60

Abstract: Stephen Onasanya had successfully steered First Bank through a three-year period of accelerated corporate transformation and growth, as the institution emerged from the global financial crisis of 2008. At the core of the bank’s transformation lay a new organizational structure. In 2010 the bank had transitioned from a geography-based to a customer-based organizational structure, and redesigned its nationwide coverage and deployment model to align with the new organization. In August 2012, it was apparent that the restructuring had been successful. Apart from the impressive financial results the bank had posted, significant progress had been made on many non-financial measures, including customer satisfaction. Nevertheless, Onasanya was not completely satisfied. He wondered what more could be done to make the new organizational structure deliver even better results, and help realize the bank’s ambitious vision of becoming Nigeria’s bank of first choice.

Keywords: Corporate transformation; organizational structure; market orientation; strategic leadership; organizational change management (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:sae:sajbmc:v:2:y:2013:i:1:p:51-60

DOI: 10.1177/2277977913480658

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